LAC vs SPY: Correlation
How closely do Lithium Americas Corp. (LAC) and SPDR S&P 500 ETF Trust (SPY) trade together? Their weekly returns over three years give a correlation of 0.21, which is weak.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are LAC and SPY?
Across a 3-year window, the weekly returns of LAC and SPY correlate at 0.21, weak. The relationship has been stable: the 1-year correlation (0.24) sits close to the 3-year figure. Stretching to 5 years gives n/a, with an annualized covariance of 285.9 %².
Among the 21 assets we track against LAC, SPY sits near the bottom by co-movement, at rank #18. On 12-month performance SPY holds a 14.2-point edge, +6.4% against +20.6%. Risk is not evenly split, since LAC carries 6.4 times the volatility of the other side.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
LAC vs SPY: side by side
| LAC (Lithium Americas Corp.) | SPY (SPDR S&P 500 ETF Trust) | |
|---|---|---|
| 1-year return | +6.4% | +20.6% |
| 5-year return | n/a | +82.4% |
| Volatility (ann.) | 93.5% | 14.5% |
| Beta vs S&P 500 | 1.37 | 1.00 |
| Max drawdown (3Y) | -81.8% | -18.8% |
| Market cap | $1.2B | – |
| P/E (trailing) | – | – |
| Dividend yield | 0.00% | 1.01% |
| Expense ratio | – | 0.09% |
| Assets under management | – | $795.3B |
| Sector / category | US Listed | ETF · US Large Cap |
SPY is a Large Blend fund from State Street Investment Management: $795.3B under management, 504 holdings, a 0.09% expense ratio, a 1.01% trailing dividend yield.
Year-by-year returns
| Year | LAC | SPY |
|---|---|---|
| 2022 | – | -18.2% |
| 2023 | – | +26.2% |
| 2024 | -53.6% | +24.9% |
| 2025 | +46.8% | +17.7% |
| 2026 | -27.3% | +13.7% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are LAC and SPY good diversifiers for each other?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
FAQ
What is the correlation between LAC and SPY?
The LAC/SPY correlation stands at 0.21 on a 3-year window (1 year: 0.24, 5 years: n/a), computed from weekly returns as of 2026-08-27.
Is SPY a good diversifier for LAC?
A fair diversifier. At 0.21, enough of each asset's movement is its own that the pair has smoothed outcomes historically.
What does a correlation of 0.21 mean?
On the −1 to +1 scale, 0.21 describes how much the two returns move together: +1 is lockstep, 0 is independence, negative values mean opposite directions. It says nothing about which performed better.
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Related comparisons
Hubs: LAC correlations · SPY correlations
